NOSTRUM OIL & GAS PLC intends to use grace period on interest payments with regard to bonds Nostrum Oil & Gas Finance B.V.

24.07.20 17:19
/KASE, July 24, 2020/ – NOSTRUM OIL & GAS PLC (United Kingdom), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of July 24, 2020: quote Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or "the Company"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today announces its plans to utilise the applicable grace periods for the interest payments due on 25 July 2020 and 16 August 2020 with respect to the 8.0% Senior Notes due 2022 (the "2022 Notes") and 7.0% Senior Notes due 2025 (the "2025 Notes", and together with the 2022 Notes, the "Notes") issued by Nostrum Oil & Gas Finance B.V. (the "Issuer"). The 30-day grace period will allow the Company to continue active discussions with the financial and legal advisers to a steering committee of holders of the Notes, namely PJT Partners (UK) Limited and Akin Gump Strauss Hauer & Feld, respectively, with a view to entering into a forbearance agreement with the holders of the Notes in relation to those interest payments which is in the best interest of all stakeholders. unquote The full press release is available on – [2020-07-24]